While agree it would have been better to do the CR when the price was higher around the time of the LG offtake announcement they had a fair bit of cash then and It might have been a little hard to justify.
I suspect they also probably thought they might get the funding approved by 30 June in which case a CR after that would likely have been at a much higher price and easier to get away.
Sentimet, none - disclosure, not held - profile not availbee, page-71
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